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How much will you pay for a house for sale in Kensington?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in Greater London $ How much will you pay for a house for sale in Kensington?

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Kensington might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of London.
Before looking for a house for sale in the city of Kensington we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.

In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Kensington.

A house for sale that is right for you

Many criteria impact the price of houses for sale in Kensington.
Here below are the most important ones according to Lofti’s expertise:

  • Affordability – (see what house for sale can you afford?)

    A guide from the UK government

  • House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.
  • Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying
  • Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom
  • Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.
  • Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale
  • Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance
  • Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.

Other cities in different locations you can consider to buy property

If you are looking for a list of cities that are different to the City of Kensington and in different UK region to Greater London. You might want to consider these as alternatives for your next real estate investment:

Or, visit our dedicated page on the houses for sale data for the whole of the UK which will allow you to pick based on where you think you want to live or invest – houses for sale in the UK.

On average, what is the figure for the asking price of a house for sale in Kensington?

When speaking about the city of Kensington, £2,089,834 is the asking price for a house for sale.

We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children in Kensington would be after a larger house than someone living alone.

The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.

Average prices for the houses for sale in Kensington

Average asking price (1 bed) £792,101
Average asking price (2 bed) £1,517,230
Average asking price (3 bed) £2,816,186
Average asking price (4 bed) £4,752,816
Average asking price (5 bed) £6,353,077

The tables should give you a generic view of what the prices of the houses for sale are like. To close things off, the average asking price for the house for sale in the whole of Kensington is £16,150. This should show you the general prices overall and for individual types of houses too.

Get professional help on the houses for sale in Kensington

Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.

Below, you can find a list of professionals that come in handy when looking for houses for sale:

  • Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
  • Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
  • Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
  • Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
  • Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
  • Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment

How are rental yields of the houses for sale different to the rest of the UK in Kensington?

Are there more or fewer houses being built in Kensington?

The growth of an area like Kensington can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.

Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.

1 year 3 years 5 years
Kensington growth rate -3% 2% -3%

Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.

Make sure you do your own research specific to the city of Kensington if you want to find out the exact reasons for the housing change.

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Kensington, currently, £0 people fall into this category.

Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area and how much you can charge for rent in your ast (assured tenancy shorthold).

What are the demographics like in the city of Kensington?

Are the people in Kensington earning a lot?

By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.

In Kensington, the average income is £67,250.00. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.

When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 55% to decide on what the demographics are like in the area.

Are the people of Kensington deprived?

The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Kensington, in particular, the deprivation levels are £0.

This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.

Located in London is the city of Kensington, in a large part of the UK; Greater London. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.

Below, the population of Kensington has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.

The knowledge below is based on a lot of different variables relevant to the city of Kensington which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.

What is the city of Kensington’s social grade score?

The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.

The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.

In Kensington, the percentage of people in the two highest categories, A and B is 55%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.

When contrasting these figures, the average household income for the area is £67,250.00. This income will generally get bigger as the percentage of people in the A and B categories go up too (55%).

What does the population of Kensington look like?

Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Kensington if 40001 and in the below heading how this population has changed will be broken down.

Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Kensington such as rental yield or house appreciation.

How has the population size of Kensington adjusted in the last 5 years?

In the previous five years there has been a change in the number of people of Kensington by 1%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here

To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 1% change has historically occurred before. Click here to know more on the UK population trends.

Over the last 10 years, how has the population size adjusted in Kensington?

In the last decade, the population of Kensington has been adjusted by 2%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.

A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.

What’s crime like in Kensington?

In Kensington, for every 1000 people, there is currently a crime rate of 14850%. This can be compared to the national average of 79.52 for every 1000 people.

Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.

Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (14850% for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.

If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.

Do the people of Kensington get to enjoy green space?

There are cities in the UK such as Edinburgh and Bristol that have a higher percentages of green space with Edinburgh being the most at 49%. The city of Kensington currently has 23 for every 1000 residents.

Green space helps the quality of people’s mental health as well as fight against diseases like obesity. As studies have shown that the proximity of people to green spaces in the UK has a positive impact on the physical health of people in the UK and Kensington in this case.

Is the education level of Kensington important when buying a house?

Interestingly, the percentage of people who have a degree in the city of Kensington is 62%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Kensington is £67,250.00.

Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.

Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.

However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.

In general, for the city of Kensington, what are the final purchase prices for the houses for sale?

There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Kensington. In Kensington, this sale price works out to be £1,863,023. As an example, a factor like population growth over the last 10 years which works out to be 2% in Kensington and impacts house prices of the houses for sale.

Housing category Total final sale price
Average sold price (detached) no relevant data for this city
Average sold price (semi-detached) £6,862,703
Average sold price (terraced) £3,583,020
Average sold price (flat) £1,471,385

Above, the exact type of house is also shown to vary in price in a table in Kensington. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.

Housing category Sale price per square foot
Average sold price/sqft £15,770
Average sold price/sqft (new build) £13,645
Average sold price/sqft (old stock) £15,755

In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Kensington which is £15,955. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.

Frequently Asked Questions

Is it possible to renovate a property in Kensington?

If planning permissions are abundant in the vicinity of Kensington, it may look promising for landlords looking to renovate. With 8 getting approved on a monthly basis, and a success rate of 87%, these prospects flourish against a population of 40001. A comparative analysis against other locations across the UK will lend you a good perspective of this data.

On a monthly basis, how many property transactions take place in Kensington?

The city of Kensington sees around 18 property transactions every month, while the nationwide figure for the whole of the United Kingdom stands at roughly 1.1 million property sales.

What’s the annual population shift in a city such as Kensington?

To work out how the population of Kensington has changed over time, you can look at the population change over a decade which is 2% and the change in a five year period two which falls at 1%. Compare the two and look at the population growth or decline in recent times to really make sure you have a good understanding of the population

What is the asking price for houses for sale in the wider region of Kensington?

The average cost per square foot for a house in Kensington is presently £16,150.

Does opting for a house for sale in Kensington come with a hefty price tag?

To assess the affordability of a property, locate a house for sale and contrast it with the mean selling prices. In Kensington, the value is £1,863,023, whereas the UK’s mean is £286,500

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donnell-bailey

Donnell Bailey

Property expert

Donnell is a property expert focusing on the property market, he looks at a combination of legislation, information from property managers, letting agents and market trends to produce information to help landlords.